SG Americas Securities LLC lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 114.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,591 shares of the company’s stock after buying an additional 19,496 shares during the quarter. SG Americas Securities LLC’s holdings in Okta were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bangor Savings Bank purchased a new position in shares of Okta during the second quarter valued at about $895,000. State Board of Administration of Florida Retirement System boosted its stake in Okta by 0.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 163,580 shares of the company’s stock worth $14,107,000 after acquiring an additional 1,020 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Okta by 245.6% during the first quarter. Macquarie Group Ltd. now owns 90,119 shares of the company’s stock worth $7,772,000 after acquiring an additional 64,043 shares in the last quarter. Seaport Global Advisors LLC boosted its stake in Okta by 42.8% during the first quarter. Seaport Global Advisors LLC now owns 4,397 shares of the company’s stock worth $379,000 after acquiring an additional 1,318 shares in the last quarter. Finally, Toroso Investments LLC bought a new stake in Okta during the first quarter worth about $201,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.
Okta Stock Up 1.8 %
Shares of OKTA stock opened at $83.53 on Thursday. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of -22.64 and a beta of 0.99. Okta, Inc. has a one year low of $44.12 and a one year high of $91.50. The company’s fifty day moving average price is $76.19 and its 200-day moving average price is $76.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.84 and a quick ratio of 1.84.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, August 31st. Stifel Nicolaus reissued a “buy” rating and set a $100.00 price objective on shares of Okta in a research note on Thursday, August 31st. Sanford C. Bernstein dropped their target price on shares of Okta from $92.00 to $84.00 in a research note on Thursday, June 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Okta in a research note on Tuesday, August 29th. Finally, JPMorgan Chase & Co. downgraded shares of Okta from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $85.00 in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.32.
Read Our Latest Report on OKTA
Insider Buying and Selling at Okta
In other Okta news, CFO Brett Tighe sold 4,846 shares of Okta stock in a transaction on Monday, September 18th. The shares were sold at an average price of $83.01, for a total value of $402,266.46. Following the sale, the chief financial officer now directly owns 56,613 shares in the company, valued at approximately $4,699,445.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Okta news, CAO Shibu Ninan sold 3,282 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $83.01, for a total value of $272,438.82. Following the completion of the sale, the chief accounting officer now directly owns 6,834 shares of the company’s stock, valued at approximately $567,290.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brett Tighe sold 4,846 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.01, for a total transaction of $402,266.46. Following the transaction, the chief financial officer now owns 56,613 shares of the company’s stock, valued at approximately $4,699,445.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,505 shares of company stock worth $1,453,090. Insiders own 7.36% of the company’s stock.
About Okta
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta's, a suite of products and services is used to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway enables organizations to extend the Workforce Identity Cloud; Advanced Server Access to manage and secure cloud infrastructure; and Okta Identity Governance, an identity access management and identity governance solutions.
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